Tag: Argentina - IMF 2018

• Monday, September 3rd 2018 - 09:25 UTC

  Argentina's efforts to regain confidence: cutting number of ministries and taxes on farm exports

  

  Argentina is drafting plans to cut its budget deficit to convince nervous investors it can pay its debts and this Monday Finance minister Nicolas Dujovne is scheduled to announce measures, before traveling to Washington to meet with IMF's chief Christine Lagarde.

• Thursday, July 19th 2018 - 07:44 UTC

  Macri offers optimistic forecast of Argentine economy, pledging growth will return next year

  

  Argentina’s economy will return to growth in 2019, President Mauricio Macri said on Wednesday, following a year marked by higher-than-expected inflation and a run on the Peso currency that many economists anticipate will lead to a recession.

• Thursday, June 21st 2018 - 08:03 UTC

  IMF Executive Board approves US$50bn Stand-By Arrangement for Argentina

  

  The Executive Board of the International Monetary Fund (IMF) approved on Wednesday a three-year Stand-By Arrangement (SBA) for Argentina amounting to US$50 billion (equivalent to SDR 35.379 billion, or about 1,110 percent of Argentina’s quota in the IMF).

• Friday, June 15th 2018 - 06:56 UTC

  Forex run in Argentina: Macri appoints new Central bank president

  

  Argentine president Mauricio Macri appointed Finance Minister Luis Caputo as president of the central bank on Thursday, after the outgoing head of the bank resigned and acknowledged having lost credibility.

• Tuesday, June 5th 2018 - 06:56 UTC

  IMF/Argentina talks “very constructive”; growth estimate falls to 1.3% from 2.5%

  

  The International Monetary Fund said on Monday that talks with Argentine authorities for financial support are well advanced and the plan is driven by Argentina priorities with a particular focus on protecting the most vulnerable.

• Tuesday, May 15th 2018 - 06:43 UTC

  Argentine admits less growth and more inflation, but exports could be boosted with a dearer dollar

  

  High interest rates will have a negative impact on activity, and the weaker peso resulting from a floating exchange rate regime will add to already sky-high inflation, but both are necessary to prevent a deeper crisis, Argentine Treasury Minister Nicolas Dujovne admitted on Monday.

• Saturday, May 12th 2018 - 07:50 UTC

  Macri enlists further financial and political support, but Peso continued to slide

  

  Argentina’s central bank sold US$1.1 billion in the foreign exchange market on Friday and the peso weakened 2.74% to an all-time closing low of 23.35 per U.S. dollar despite talks aimed at securing an International Monetary Fund financing deal.

• Friday, May 11th 2018 - 06:29 UTC

  Argentine stock market climbs 6% and the exchange market operates cautiously

  

  Argentine equities rallied on Thursday, while the country's peso currency was stable, as the central bank sold foreign currency reserves in the spot market for the first time since the country announced it was seeking financing from the IMF.

• Friday, May 11th 2018 - 05:39 UTC

  IMF and White House support Macri's economic reform program

  

  International Monetary Fund chief Christine Lagarde said on Thursday she is ready to aid Argentina and wants talks on a financing package to be finalized quickly. Lagarde said she instructed the IMF team to continue discussions on a loan program with the goal to “reach a rapid conclusion.”

• Wednesday, May 9th 2018 - 07:32 UTC

  Peso storm: Argentina requests a US$ 30bn precautionary credit from IMF

  

  Argentina asked the International Monetary Fund for financing to help stem a run from the Peso to the US dollar that is sparking a surge in interest rates and threatening to derail the country's economic recovery. The sum requested is estimated between 25 and 30bn dollars, 500% Argentina's IMF quota and could be disbursed in two forms, a flexible credit line or a precautionary credit line.